MedQuist, a medical dictation and transcription technology and services company, has informed 200 employees that their positions will be eliminated, effective immediately.
The Mount Laurel, N.J.-based company is restructuring its non-medical transcriptionist workforce to realign expenditures with current operational needs, according to a Form 8-K filing with the U.S. Securities and Exchange Commission (SEC).
The terminations will affect about 10 percent of its non-transcriptionist employees.
“The company has no current intentions to reduce its medical transcription workforce,” according to the SEC filing. “Rather, the company will continue in its efforts to hire additional qualified medical transcriptionists.”
MedQuist said it expects restructuring costs of $1.7 million to $2 million, almost entirely consisting of severance pay and reduced operating expenses in 2008 of $10 million to $11 million.